Question : Benefits of RCEP

(a) whether the Government has any proposal to sign or withdraw from the Regional Comprehensive Economic Partnership (RCEP);
(b) if so, the details thereof and if not, the reasons therefor;
(c) whether there is huge apprehension from public over RCEP and if so, the details thereof and the steps taken to address this concern;
(d) the details of the salient features and benefits of joining RCEP; and
(e) whether the Government has assessed the impact of RCEP on agriculture in the country including stakeholders consultation/study and if so, the details thereof along with the major benefits to the farmers under the scheme?

THE MINISTER OF COMMERCE AND INDUSTRY
(SHRI PIYUSH GOYAL)

(a) to (b): During the 3rd RCEP Leaders Summit which was held on 4 November, 2019 in Bangkok; India stated that the current structure of the Regional Comprehensive Economic Partnership (RCEP) did not reflect its Guiding Principles or address the outstanding issues and concerns of India, in the light of which India did not join Regional Comprehensive Economic Partnership (RCEP).

(c) to (e): The Government has held regular stakeholders’ consultations with and received inputs from the domestic industry, exporters, trade experts, concerned Ministries/Departments and State Governments. These inputs have been taken into consideration while formulating India’s position in the Regional Comprehensive Economic Partnership (RCEP) negotiations, with a view to achieving balanced outcomes, balancing ambitions with addressing domestic sensitivities. RCEP was also intended to provide market access to India’s exports to the region, including of agricultural products.
****